jftjr

My '06 RL's lease is up in March '09.

Just got a letter from Acura about "end of lease" options.

NINE MONTHS before the lease is up?

They want to know what I want to do with the car at the end of the lease and if I'd like to be contacted by a dealer about "end of lease options."

NINE MONTHS?

I mean, I've gotten these before at three months or so, but... wow.

They also want to know what other cars I'm interested in. I wrote in "Hyundai Genesis" hoping to give their marketing department a few chest pains.

Unfortunately, there wasn't a space to write "I'd lease an 09 RL but I wouldn't be caught dead being seen in a car that sports a beak that looks like it was designed by a drunken monkey."

DoctorTuna

My 05 RL lease is up end of August and I think I received a letter about 3-4 months ago. They didn't ask what other cars I was looking at. If they had they would have needed a large area because I have been test driving like crazy. I also received a letter this week stating they would waive the remainder of my payments if I get into a new Acura. I may or may not utilize this, I will admit I am waiting to see and drive the 09 RL before I make any final decisions. I had the 09 TSX for 3 days as a loaner and although a nice car the interior refinement and powertrain was exactly what you pay for, not good when you're coming out of the RL. An option if I wanted to save $200 a month. As I have stated before the 08 RL lease isn't great because of the substantial built in depreciation. Ultimately, Acura is trying to unload the 08 RL and TL right now.

gbriank

My lease is coming to an end in a few months. What are your options to end early? Do you have to get another Acura, or can you get a Honda instead?

DoctorTuna

The letter only mentions a new Acura but I'm sure if I pressed for a new Honda they would probably go for that too since American Honda Finance underwrites the Acura lease.

lindros2

I've received the end of lease postcard TWICE. I've filled it out both times indicating I'm not getting another Acura.

So now I receive a letter that I've been "pre-approved for $66,300 financing towards any Acura," and they'll waive $1500 in use or damage blah blah blah.

1. Did they miss the fact I said "I'M BUYING A NISSAN GT-R."
2. Is there an $80k Acura I'm unaware of?

neuronbob

Sounds like a mailbox spam/scam.

DoctorTuna

Have you been on a waiting list for the Nissan?? I heard supply is limited, amazing vehicle. Enjoy!!

gbriank

Either its a scam, or Honda is realizing that Acura sales may start dropping off.

jftjr

I really don't think it's a scam, as the return card is addressed to AHM leasing, it's printed in a consistent manner with other Acura marketing materials, and the online response was on an Acura-domained website. Also, my dealer contacted me within 24 hours of me responding. So, I'm thinking it's legit.

They just want to turn over some of these cars, I guess.

Chas2

May START dropping off?!!

No they just mean you can lease an MDX and an RL!

CL6

Every smart car company does this it is called 'lease retention.' I start contacting my customers 12 months out.

jftjr

I've been leasing cars for 15 years... and I've never gotten these kinds of solicitations before 3 months or so out.

Sure, dealers have called -- but this is from Acura, not the dealership. I just thought it odd that it was sooo far away, and wondered if there was a promotion behind it.

I mean, I'm not interested in taking a bath with 9 months on a lease for a car whose resale value has gone down like a high priced hooker on a New York governor.

But if they have a nice way out I'd certainly look at taking it.

CL6

That is odd then. MB will sometimes make up to 5 of your remaining payments to get you out... Acura never did that. Maybe they are getting nervous you will jump ship.

DoctorTuna

The letter I received is good for 2 months of remaining lease payments. The only vehicle I'll be interested in at this point will be the 09 RL, and I have to see it in person before I make any decisions, pictures aren't flattering.

lumpulus

In a recent Road Test Comparo in Car and Driver(I think) the GT-R finished SECOND to the M3, but ahead of a 911 Turbo, and the M3 is the least expensive of the 3.

Buy some ear plugs, they said the road noise from the GT-R was really loud.

lindros2

As the GT-R piece of my post is off-topic, I'll just say that I put my money down a long time ago and got lucky. Earplugs or not, I'm happy I got one early.

Regarding the RL end-of-lease, they will forgive my remaining payments (currently numbering 5 - but was 6 when I received the letter) and $1500 in damage or wear. It's an official document and pamphlet from Acura. Also it was $64,600 not what I posted above.

kgd

My lease on the 05 RL is also up in September. Has anyone been successful in negotiating a revised residual value buyout of the lease. I do plan to keep the car as it has been great and still drives like new. I haven't looked into current prices for 05's yet. In the past with other leasing companies I was able to buy out the car for less than residual as the value had declined. Not sure if Honda finance is willing to deal on the buyout. I would think that if they could get wholesale book for the car they would be willing to do a deal.

Any thoughts are appreciated.

Thanks,

Kris

DoctorTuna

I had considered doing the same thing and had started a thread about it. My residual of $29300 seems high compared to what other 05 are selling for so I was going to entertain the 09. Although, if Honda Finance was willing to negotiate the price I would consider as I do still love the car. The paperwork I received stated that the residual was non-negotiable. If you have any luck please keep us posted!! I will do the same.

peter97

My 05






My 05 RL lease is up in Nov and I've received offers/letters from Honda, Acura and GM. Some of the offers involves paying off last few months of payments.
I would like a definitive answer as to whether I can negotiate the buyout. My buyout is at 25k but I see ads for same year and mileage (30-32K) through Carmax at 27.5 k.
I wouldn't mind buying out the car for about 20k as I have a deposit on another car that won't be available until maybe 2010.

I don't remember which piece of correspondence stated that buyout price was not negotiable with Honda Finance, but that could've been a ploy to prevent people from trying.
In any event, they ultimately would unload it at a certain price to a wholesaler if the dealership didn't want it. Anyone have any ideas as to how much a wholesaler would pay?

lindros2

I took advantage of this offer.

Honda Finance is firm on the 3 months of payments.

Buyout would not be discussed and honestly I'd rather get a new RL on lease...

jftjr

I doubt they'll negotiate on buyout, as they buy an insurance policy on the car's value when they write the lease. They've essentially bought lease "futures" which ensures that they will get full residual at lease end no matter what the actual residual is. So, there's no incentive for them to negotiate -- they'd just be costing themselves money.

Lindros, what do you mean by "firm on the 3 months of payments"? I would love to get out at 6 months -- I'd love to get out now, honestly, because I've got a new car jones... -- which offer did you take?

EDIT: By the way, my dealer's been wanting me to come in and talk about rolling into an '08. He told me there's a "special" on the 08's for $499 a month with $2499 down... but that's on an '08 BASE, not tech. I asked him what might make him think I'd want to give up an 06 for an 08 base -- I like my GPS, it's the main reason I bought the car -- and to call me when the 09's came in so I can go lose my appetite.

DoctorTuna

Absolutely DON'T lease an 08. If you want a good deal buy a Tech for 41K. The lease payment for an 08 is significantly higher than my 05 lease even though the money factor and net capitalized cost on my 05 is higher!! The residual value is killing the lease deal.

gregfromMN

RL Lease Experienced, Anyone have an idea of what I could reasonable offer a dealer to buy a lease returned '05 RL? I want to buy an RL with less than 35K miles but challenged by calculating cost implications of '08s going for ~$40K. I always buy my vehicles so I'm not experienced with the lease terms but wondering how to find out if the residual values are being revised. I just don't see Acura selling '05s for $30K when an '08s are $40K. Yet, the mainstream websites suggest an '05 should sell for $28-32K.

taitando

Wow...it's funny to see so many '05 leases ending (mine included) and everyone contemplating whether or not rejoin the Acura family.

Me? I'm out.

With that said, I received my end of lease letter about 9 months before the end of my term (August '08). But get this, I also received a letter from GM with offers to buyout my lease early if I get into a GM model. I don't remember the exact amount they were offering, but then again, I'm not really interested in anything GM currently has to offer.

jftjr

I'd consider a CTS or a Saab Turbo X wagon.... assuming they count.

Hell, I wish I could find something GM I liked, they're offering 72 month no interest financing. Free money for 72 months? That's insane....

taitando

Actually, yes, Cadillac and Saab were all included in the offer. Basically anything that GM owns, including Hummer (for the time being). I'm not sure how they obtained info about my current lease ending, but I wished I got offers from other makes as well.